Chapter 252: Another Dividend and a New Plan brewing
The 29th is Saturday, the last day to work in September.
Next is the 8-day long holiday during the Mid-Autumn Festival and National Day.
Although Bolang has excellent welfare benefits and today is the end of the quarter, there are still a few employees who have taken leave today and are not at work.
Everyone wants to take a longer vacation.
After all, 9 days is one more day than 8 days~
No company would mind such a small thing, even if Bolang had planned in advance to hold an online all-staff meeting that would last about an hour today.
At ten o'clock in the morning, Wang Wanyu, Li Ze, Tang Pu, Chen Jiaxin, Sun Baoyin, Li Bowen, Wang Zhiyi, Zhao Mingjie, and Zhang Yulin walked into the general manager's office.
Wen Liang made a pot of tea to entertain several co-founders: "Qin Zheng is away on a study tour. Due to time differences and regional issues, he is absent from this regular shareholder meeting. He has given me full authority over all matters."
After explaining the well-known fact that Qin Zheng was absent from the regular shareholders' meeting, Wen Liang glanced at everyone and said unhurriedly: "The company is growing stronger and stronger, and the past meeting format is no longer suitable. My idea is that similar meetings will be held in the future.
Regular shareholder meetings only discuss important issues of interest."
"Mr. Chen is responsible for establishing a regular reporting mechanism for detailed business summary, arrangements for the next stage and other relatively more specific matters."
"If you agree with this proposal, please raise your hands."
After saying that, he looked at everyone.
Wang Wanyu and Li Ze were the first to raise their hands in agreement, and then everyone agreed.
There may not seem to be many big business items, but there are two subsidiaries alone, as well as various infrastructure construction and other matters. If you really want to summarize them all, it will take up a day.
A normalized reporting mechanism is a good solution.
Anyway, an electronic archive will be created and you can go back to it at any time.
In fact, before the meeting started, Wen Liang had communicated with everyone individually, and no one was surprised by this.
After taking a sip of tea, Wen Liang said directly: "As usual, divide the money first."
As soon as he finished speaking, everyone looked at Wang Wanyu.
Wang Wanyu opened the folder she carried with her, looked at the data, then scanned the crowd, and said loudly: "The total revenue attributable to the company in the third quarter was 3.433 billion yuan!"
The third quarter that is about to pass is a quarter in which Bolang's Internet business has basically taken shape and is operating smoothly.
The harvest is naturally impressive.
Not that much of a surprise, after all, at the end of the second quarter, we had initially felt the revenue generated by the business formation.
Wen Liang took the lead in applauding, but said nothing.
Then, Wang Wanyu continued: "In the third quarter, the advertising business revenue of Xiaocheng Book was 2.418 billion yuan, and the company's revenue from platform advertising was 431 million yuan."
"Mobile game business revenue was 322 million yuan."
"The revenue attributed to the company from all other businesses including hot-selling mall, Huipay and so on was 262 million yuan."
The most outstanding revenue contribution is still the advertising business of Xiaocheng Book.
Although the advertising business has been fully opened, Xiaocheng Book has truly exerted its effect as the first domestic Internet social media platform;
However, the total advertising revenue of Xiaocheng Book in the third quarter was less than 3.91 billion, which is still far behind Facebook’s single-quarter advertising revenue of US$934 million or nearly 6 billion yuan in the fourth quarter of last year.
Facebook’s advertising revenue rose again in the second quarter of this year, reaching $992 million.
That is to say, although the abundance of the domestic market is evident, Xiaochengshu has basically reached the market limit at the current stage. If it wants to expand its revenue scale, it will have to wait until the mobile Internet becomes more popular.
On the other hand, in Bolang's plan, what really wants to compete with Facebook is the current American-style development range.
The revenue from the platform's advertising business is still considerable. The separation of this business from Bolang Xiaocheng has allowed Bolang, the parent company, to gain more practical benefits.
But no one loses.
At least the 2.418 billion yuan in revenue from Xiaocheng Book’s advertising business comes from the Bolang Xiaocheng stall.
In addition, in the third quarter, due to the booming mobile game market, the revenue of the mobile game business increased by nearly 170 million compared with the second quarter.
As for the hot-selling mall, we can’t say it won’t work. Even if Xiaochengshu is crazy about diverting traffic and even promotes the star system to include the hot-selling mall, it is not on the same level as the Alibaba and JD.com systems.
The revenue of hot-selling malls in the entire third quarter was less than 3.7 billion, with a total daily average transaction volume of about 41 million.
Jingdong’s daily average is more than 160 million.
Alibaba’s Tmall alone has an average daily transaction volume of 548 million.
At this stage, whoever of these two companies takes care of the hot-selling mall will lose.
The most popular shopping malls can be compared to e-commerce platforms such as Vipshop and White Goose E-commerce.
It can only be said that Bolang's ambition is not here, well, his ambition is not here!
After summarizing the sources of income, Wang Wanyu listed the expenditure items: "At the end of the second quarter, the company had a balance of 110 million yuan, and in the third quarter, it raised 3 billion yuan;
Summary of expenditure items: The final payment for the construction of the computer room is 200 million, the land purchase cost is 1.36 billion, the initial design and construction cost of the company's headquarters building is 210 million, the initial construction cost of the data center cluster is 170 million, the final payment for the construction of the company canteen is 110 million, and the basic research and development expenditure is 420 million
;
Operating costs, expenses, labor costs, and office costs totaled 721 million, including the repayment of short-term bank debt of 50 million and interest in the first quarter.
The company’s annual prepaid tax expenditure is 250 million.”
"Total expenditure: 3.441 billion."
Finally, Wang Wanyu reported: “The group’s public accounts have available cash of 3.102 billion today.”
The revenue in the third quarter was very impressive, and so were the expenses. Even if the 1.57 billion in initial expenses for purchasing the land and the headquarters building were deducted, the expenses were still as high as 1.871 billion yuan. After including the 250 million in tax expenses, the figure was 2.121 billion.
Subtract 2.121 billion from the total 3.433 billion, which results in a rough net profit of 1.312 billion. The operating net profit margin has dropped to 38%.
The 70% to 80% operating net profit in the first quarter is gone forever.
Moreover, the profit will be lower in the future.
Because Bolang is still exempt from corporate income tax. It has been a year and a half since Bolang was first established. It can still enjoy a tax holiday of another year and a half. After that, the corporate income tax expenditure alone will reach a maximum of 25%.
Wen Liang thought for a while and said after careful consideration: "I had a communication with Shen Nanpeng and others some time ago. If Bolang Xiaocheng raises funds again in the near future, in the form of A-1 round, the valuation can only be reduced to 45 billion, which is very unfortunate.
It is beneficial to us, so we do not plan to continue to open financing in the near future;
I will use the revenue from the Internet business to invest in improving the Internet business territory;
Taking into account all arrangements, I think the dividend amount for this quarter will still be set at 400 million after tax. What are your opinions?"
400 million after tax is 500 million before tax. The current tax law for shareholder dividends is a fixed 20% tax rate.
After this dividend payment is spent, the remaining amount in the public account is 2.6 billion. In fact, it is no longer a surplus. Investment in various infrastructure will continue in the fourth quarter.
After hearing what Wen Liang said, everyone had no objections.
The amount of dividends paid in a single quarter has little impact. It has grown to this point with Bolang. How could it not understand immediate benefits and long-term benefits?
Besides, investing in business is for the greater benefit.
So it was settled.
Wen Liang received 60.34% + 1%, totaling 245.36 million.
The options that have been decided to be granted this quarter are 10 million shares, and the remaining 10 million shares, totaling 1% dividend, are still Wenliang.
The other 10 people still received a total of 33.66%, or a total of 134.64 million.
The 4% of the option, RMB 16 million, is shared by all employees.
Another 1% of the 4 million will go into the South China University of Technology Education Development Foundation.
Speaking of which, Wen Liang is definitely a high-quality taxpayer born in the 1990s. Counting the tax paid for this dividend, he has paid more than 100 million in taxes this year.
This time Wen Liang didn't pay attention to the incoming text message and poured himself a cup of tea: "Regarding the key planning for the fourth quarter, we have some key points to discuss."
As soon as he finished speaking, everyone responded: "Okay!"
Chen Jiaxin took out a pen and took notes.
Wen Liang said directly: "We are planning to establish a new subsidiary to operate Bolang's consumer terminal business. The business scope includes but is not limited to mobile phones;
This company will be formed in a new form, and specific investment shareholders and investment forms will be finalized before its establishment;
Mr. Wang, Mr. Ze, you will work together to calculate the initial business development expenditures and business technology valuation, and then I will determine the financing amount and the proportion of shares to be transferred."
Wang Wanyu and Li Zejin both nodded: "Okay."
Seeing this, Wen Liang emphasized again: "For the expenses that should be paid, the actual amount should be increased. If the actual amount is larger, double it. If the amount is not large, add zero. This time, the shareholders are very rich and don't care about their equity holdings."
.”
Everyone just laughed.
They all know what shareholders Wen Liang is talking about.
This wave is called planning to trap the collective~
But everyone believes that the collective will be very grateful to Mr. Wen for coming to our door.
Then, Wen Liang made arrangements: "In the new company, Mr. Ze will be the general manager, and Bolang Xiaocheng will promote someone internally to become the general manager of Bolang Xiaocheng."
"In addition, it is planned to create a new vice president position in the fourth quarter, and my initial preference is Xindai."
Everyone expressed their opinions on this aspect.
Li Ze was the first to ask the question: "Are two more vice president positions going to be created this year?"
Wen Liang explained: "For the time being, we only plan to create a new vice president position. My idea is to make a promotion period for major positions in half a year and promote small positions on a quarterly basis."
Wang Wanyu expressed her opinion: "In principle, three months is enough to show a person's ability. It is okay to reserve three months to observe whether he can have a higher vision."
Wen Liang added: "Among us shareholders, only Xiao Chen and Lao Tang hold administrative positions. Xiao Chen has other arrangements. Lao Tang, you will have to suffer further. It will not be until at least the third quarter of next year that I can give you the title of vice president."
Hearing this, Tang Pu laughed and said completely nonchalantly: "You already said it's a title. We people don't care about titles. We care about whether we can do less non-technical work~"
"You envy me, don't you?" Li Ze raised his thick eyebrows and said very proudly, "Then watch and study hard, and sooner or later you will have your turn to do technical work~"
Tang Pu curled his lips and ignored Li Ze.
The core point of Bolang's current system construction is to reduce administrative airdrops.
There is no direct social recruitment for senior administrative positions. Those who are capable but have a temper, I'm sorry, but I'm too big and Bolang can't accommodate them.
What we are looking for is someone who has the ability to climb out of the system.
Wen Liang is willing to give all Bolang members a chance. As long as you have the ability, you can do triple jump.
The first example is Yang Yun, who was far behind the department manager at that time.
There is no second example yet.
Xindai can only be promoted smoothly.
It doesn't matter if you are in a technical position. If you have the technical strength, you will immediately recommend the bank manager, and the bank manager will promise not to say anything.
The last thing discussed was the draft all-employee stock ownership plan.
This is actually a tricky thing.
Because the share ratio is always only 100%, and it is always divided on this 1, how to reasonably distribute the cake is a troublesome matter in itself.
For this draft, Li Ze and others sacrificed many brain cells.
A plan was negotiated that in Wen Liang's opinion could only be considered excessive.
It's an imported product called TUP: time unit plan.
The initial plan is a three-year TUP plan, which allocates TUP equity for a three-year period based on employee contributions. Employees do not need to spend money and can obtain dividend rights and appreciation rights. The TUP equity will be cleared after three years.
The general plan implementation is to obtain periodic dividend rights and equity appreciation every year.
That is, you can only get a small part of the total equity dividend in the first one or two years, and you can get the full amount in the end.
Bolang will directly receive 100% of the dividends from the equity from the first year, and receive the full amount every year. In the third year, the value-added income will be settled and the TUP shares will be cleared.
In short, in the end, the plan was drafted in parallel using options + TUP, and then solicited opinions from all employees -